recent fiasco:
"Assume: closed economy; no investment or real capital of any kind; lump-sum non-distorting taxes with zero collection costs; positive real interest rate and zero real growth; exogenous full-employment level of output; apples are the only output good; apples cannot be stored; identical agents; overlapping generations; no funny stuff"
no funny stuff !!!
a toy among toys this
and he reduces this eventually to a numerical example
of an unmotivated nexus of behaviours
predicated on what ??
well the state can act any way it wants ....taxing wise
i doubt he sees this
he just loves the cautionary tale so long as it's contrary
the back and forth over this dumb toy goes on and on thru a zillion comments
refuting these tar baby efforts is a waste
there's always another dimension availible ..
another set of assumed parameter values
if it comes to it a whole other toy model equally irrelevent there fore equally relevent too and another and another ... duels in the air ...
never an end to rational reversals opf the rational
the verdict is in the intentions of the judge / toy designer
that is what allows one to detect a dip shit with a dry cork up his dunger
his intentions
here nick blow
just wants to fudge pack any notion of amplified fiscal stimulus
